CX Institutional Grows Stock Position in Gen Digital Inc. (NASDAQ:GEN)

CX Institutional raised its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 50,686 shares of the company’s stock after buying an additional 1,989 shares during the period. CX Institutional’s holdings in Gen Digital were worth $1,345,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Curat Global LLC purchased a new position in shares of Gen Digital in the 1st quarter valued at about $154,000. Merit Financial Group LLC purchased a new position in shares of Gen Digital in the 1st quarter valued at about $273,000. Kera Capital Partners Inc. increased its stake in shares of Gen Digital by 41.7% in the 1st quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company’s stock valued at $313,000 after purchasing an additional 3,466 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Gen Digital by 15.1% in the 1st quarter. GAMMA Investing LLC now owns 12,139 shares of the company’s stock valued at $322,000 after purchasing an additional 1,593 shares in the last quarter. Finally, Vest Financial LLC increased its stake in shares of Gen Digital by 61.9% in the 1st quarter. Vest Financial LLC now owns 13,689 shares of the company’s stock valued at $363,000 after purchasing an additional 5,232 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GEN. Royal Bank of Canada lifted their price target on Gen Digital from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. Morgan Stanley cut their price target on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th.

Insiders Place Their Bets

In other news, Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the transaction, the director now directly owns 34,860 shares in the company, valued at $1,002,573.60. The trade was a 47.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.20% of the stock is owned by company insiders.

Gen Digital Price Performance

NASDAQ:GEN opened at $30.27 on Friday. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $31.72. The stock has a 50 day moving average of $26.90 and a two-hundred day moving average of $27.52. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 3.29. The firm has a market cap of $18.77 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $999.48 million. During the same period in the previous year, the business earned $0.53 EPS. Gen Digital’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 annualized dividend and a yield of 1.65%. Gen Digital’s dividend payout ratio (DPR) is currently 48.08%.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.